One in five landlords are making EPC improvements One in five landlords are making EPC improvements

One in five landlords are making EPC improvements

Published in Lettings on 29 November 2021 by our Marketing Team

With new rules coming into force from 2025 for rental properties, landlords must make sure their property’s EPC rating is C or above, or risk not being able to take on new tenants.

 
As a result, around 17% of landlords have made a conscious effort to improve the energy efficiency of their property. With a further 23% of portfolio landlords also taking action to ensure their properties meet the criteria.*
 
Changes by landlords include: 22% that had replaced their boiler and heating system, 23% looked to replace windows and 18% had installed new white goods.
 
Common green home improvements also include improving insulation, fitting solar panels and replacing gas boilers with a more sustainable alternative.
 
With such changes being implemented to properties, many tenants have stated they would pay more if this was the case for their rental property.
 
One in 10 private renters have also said they would stay in their current property longer if their landlord made changes that would benefit the environment – a popular consideration now emerging in the lettings market.
 
However, the main concern is that for many older properties, updates like changing the boiler simply won’t be enough. As a result, more serious changes may need to be made, making the entire undertaking a costly job.
 
In some cases, landlords can look to gain support from both lenders and the government to make the changes financially feasible. The hope is that with landlords making the effort to better improve the EPC of their properties, more favourable terms on mortgages will become available to them.
 
This has caused several lenders to introduce ‘green’ mortgages, rewarding those landlords that have an EPC rating of ‘A’ or ‘B’.
 
Landlords already making changes have been welcomed by many in the industry, as a positive step towards making sure properties are compliant from 2025.
 
Are you a landlord and needing to make changes to your property ahead of 2025? Get in touch with us today to discuss your portfolio needs further.
 
*Shawbrook Bank

This article was originally published by BriefYourMarket and is reproduced here with their permission.

For more company news and insights from Pygott & Crone, click here

Members of the Relocation Agent Network

Part of a network of agents

We work with other trusted estate agents across the nation

Latest news

Help us make a difference to those in need this Christmas
Campaigns | 21 November 2022

Help us make a difference to those in need this Christmas

Donations for our local food banks are being gratefully received at your local Pygott & Crone branch

Is home staging worth it?
Magazine | 1 November 2022

Is home staging worth it?

Home staging is a specialised skill which involves creating the perfect atmosphere in your home using furniture and accessories, plants and lighting, to garner buyer interest for your property and sell it faster, for the best price.

Winterproof your home with these tips
Magazine | 1 November 2022

Winterproof your home with these tips

As autumn leaves us and dark evenings approach, now is the best time to start preparing your home for the cold months ahead.

One in three properties receive an offer one hour after viewing
Magazine | 1 November 2022

One in three properties receive an offer one hour after viewing

The housing market once again exceeds expectations after a poor reception from the chancellor’s mini-budget and regular talk of a possible slowdown, as current research suggests that in 2022, almost a third (31%) of properties are now receiving offers within an hour, compared to a mere 7% in 2018.

Chat live

Chat live with a member of staff

Please provide your name and email address to continue.

Cookies

We use some essential cookies to make our website work; and we use some other cookies to help us improve our website without identifying you. You can accept all cookies or change your settings below.

For an explanation of cookies and how we use them, see our cookie policy here (opens in new tab). Below you can choose to enable non-essential cookies.

These are anonymous and help us understand how our website is used.